Kellanova (NYSE:K) Given Consensus Recommendation of “Hold” by Analysts

Shares of Kellanova (NYSE:K) have received a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $76.35.

K has been the topic of several recent analyst reports. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. Barclays boosted their target price on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Finally, Stifel Nicolaus upped their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the completion of the sale, the insider now owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,145,830 shares of company stock valued at $92,516,606 in the last ninety days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

A number of large investors have recently made changes to their positions in K. CVA Family Office LLC increased its holdings in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares in the last quarter. MCF Advisors LLC increased its holdings in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. Blue Trust Inc. increased its holdings in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. purchased a new position in Kellanova during the 2nd quarter valued at about $29,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Down 0.1 %

K stock opened at $80.59 on Wednesday. The stock has a market capitalization of $27.78 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.59 and a beta of 0.38. The firm has a 50-day simple moving average of $80.82 and a 200-day simple moving average of $71.65. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.34.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. Equities analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Kellanova Company Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.